"Michael Burry's Bold Move: Doubling Down on China Tech Stocks"

Hedge fund Scion Asset Management, founded by Michael Burry of "The Big Short" fame, has doubled down on China stock bets, with 10% of its US-listed portfolio in JD.com and 9.6% in Alibaba. Other hedge funds, including Third Point and Hillhouse Capital Advisors, have also taken positions in Alibaba. Despite a challenging year for China stocks, some investors, such as Thomas Hayes of Great Hill Capital, remain optimistic about the potential of Alibaba, particularly its cloud unit, and see the current market valuation as an opportunity to buy and hold.